Reinsurance News
electronic placement
Lloyd’s launches new API to enhance electronic placement
9th June 2020
Insurance and reinsurance marketplace Lloyd’s of London has announced the launch of a new application programme interface (API) to help London Market brokers and underwriters place business electronically. The launch will form part of the Future at Lloyd’s work on developing the next generation of PPL. The new API is available immediately ... Read the full article
AEGIS London’s Opal platform sees record-breaking month
9th June 2020
AEGIS London has revealed that for the very first time, its online quote-and-bind platform Opal generated more than $5 million of net premium in a single month. The record-breaking volumes of business seen last month, means that as of the end of May 2020, Opal has now generated $100 million net ... Read the full article
Reinsurance broker Ed launches TradEd in Bermuda
18th May 2020
Global reinsurance brokerage Ed has announced that its TradEd platform is now available to both carriers and clients in Bermuda. The TradEd electronic trading platform is used in-house by BGC insurance companies across the world, designed to enable a seamless placement of risk for all parties involved. An announcement on the external ... Read the full article
RiskBook approved by Lloyd’s as reinsurance e-placement tool
9th April 2020
RiskBook Ltd., an independent provider of reinsurance placement technology, has been approved by the specialist Lloyd's of London re/insurance marketplace as a recognised electronic placement system for open market reinsurance business. The announcement marks the first time that brokers from any firm can leverage a single user-friendly placement tool for global ... Read the full article
PPL usage and adoption growing at pace during COVID-19
8th April 2020
In the three weeks since the London insurance and reinsurance market started working remotely as a result of the global coronavirus pandemic, the number of unique users on the Placing Platform Limited (PPL) has increased by 40%. PPL, the London market's electronic placing platform, has been tracking both activity and performance ... Read the full article
Focus of the Future at Lloyd’s strategy narrows in response to COVID-19
27th March 2020
The Lloyd's of London insurance and reinsurance marketplace has decided to rationalise and narrow the focus of the Future at Lloyd's strategy as it adjusts to the impacts of the global COVID-19 pandemic. Speaking during the Lloyd's 2019 annual results call, executives at the world's oldest insurance market noted the broad ... Read the full article
PPL adoption trends continue through Q4: LMG
17th February 2020
Data from the London Market Group (LMG) shows that adoption of of Placing Platform Limited (PPL) continued to increase through the fourth quarter of 2019. Lloyd’s of London syndicates accepted 73% of in scope risks through electronic placement last quarter, and 39% of submissions were electronic. In Q3, syndicates accepted ... Read the full article
Lloyd’s mandates electronic placement for 80% of risks bound
29th January 2020
The Lloyd's of London insurance and reinsurance marketplace has announced an update to the Electronic Placement Mandate, increasing the target on risks bound for each quarter of 2020 to 80%. The specialist Lloyd's re/insurance marketplace introduced a mandate for electronic placement for syndicates in 2018. Initially, and from Q2 2018, Read the full article
PPL adoption up in Q2 2019, IUA usage rises
12th August 2019
Lloyd's of London Syndicates accepted 60.2% of in scope risks through electronic placement during the second-quarter of 2019, while the use of Placing Platform Limited (PPL) amongst the International Underwriting Association (IUA) companies increased to 51% in the period. This is according to the latest market-wide data for risks placed electronically ... Read the full article
Lloyd’s outlines electronic placement mandate targets for H2 2019
3rd July 2019
Insurance and reinsurance marketplace Lloyd’s of London has outlined a set of updated targets for its electronic placement mandate, which will require syndicates to progressively write more of their risks digitally. In the third quarter of 2019, each syndicate will be required to have written no less than 60% of its ... Read the full article
Number of LIIBA members committed to PPL surpasses 100
4th April 2019
More than 100 members of the London International Insurance Brokers' Association (LIIBA) have now committed to signing up for the Placing Platform Limited (PPL), a core component of the London Market’s Target Operating Model. The adoption of electronic placement is increasing across the London market as an overall drive for greater insurance ... Read the full article
LiquidX, Marsh partner on electronic platform for trade credit insurance
2nd April 2019
LiquidX, the international network for illiquid assets, has partnered with global insurance and reinsurance broker Marsh, on the launch of a "next generation" platform for the trade credit insurance sector, called the Liquid Trade Credit Insurance Marketplace. The new electronic marketplace went live recently, with numerous transactions executed and underwritten by ... Read the full article
XL Catlin binds first political risk policy on London market’s PPL
23rd April 2018
Bermuda-based XL Catlin has become the first insurer to bind a political risk policy on the London Market Group's (LMG) electronic placing platform, PPL, the company has announced. PPL, the London market’s electronic placing platform, went live in July 2016, and recently announced the addition of Accident & Health (A&H) ... Read the full article
Hiscox CEO named Chair of London Market Group’s PPL
22nd March 2018
The Board of the London Market Group's Placing Platform Limited (PPL) has announced that Hiscox Chief Executive Officer (CEO), Bronek Masojada, has been appointed Chair, replacing outgoing Chair David Ledger. Commenting on his new appointment, Masojada said: "I look forward to becoming PPL Chair. David and all those involved in PPL have ... Read the full article
Lloyd’s introduces electronic placement mandate for syndicates
20th March 2018
The Lloyd’s of London marketplace has announced that it is to issue a mandate for electronic placement, which will require syndicates to progressively write more of their risks electronically. After Q2 2018, all Lloyd’s syndicates will be required to write at least 10% of their risks electronically, rising to 20% in ... Read the full article
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